week 4

Question 1

what is market research

Answer 1

set of techniques systematically collect record analyze interpret data that aid in marketing

Question 2

factors make market reserahc success

Answer 2

o 1- will research be useful beyond what managers know and reduce uncertainty
o Is topmanagement committed and abide by result
o Small or large

Question 3

why is market research conducted

Answer 3

understand consumer, market validity, competitor anlysis, market trends, product dev, communication strat

Question 4

role of market research

Answer 4

data informed decesions, research the past and present to help judge the future

Question 5

process market research

Answer 5

define objectives, design plan, collect data, analyze and dev insights, determine action plan

Question 6

market research Most important step is

Answer 6

is 1 because if wrong problem = wrong solution and if oprocess done wrong = mislead or useless data

Question 7

research design includes

Answer 7

methodology, data collection method, creating instrument, sampling, project management, ethical considerations

Question 8

internal vs external data

Answer 8

o Internal: we collect from customer’s data mining, big data
o External: Statista passport etc
 Must be relevant and useful

Question 9

important consideration of data

Answer 9

o Important consideration: reliability consistent over time, doesn’t matter collect now or in a year, need to be the same if I collect vs other collector. About being consistent with info collected
o and validity  measures exactly the qs and variables we are trying to assess

Question 10

pannel data is prmary or secondary

Answer 10

o Panel: info from group over time if what they purchased = secondary but survey is primary

Question 11

primary methods for market reasearch qual and quant include

Answer 11

qual: ethnogrophy, interview, focus group
quant: experiemnt and surveys

Question 12

qual vs quant

Answer 12

qual: o Understand phenomena in deep= qualitative start with why and how
o If our q starts with what and which
o Qual: broad open end qs
 Like observation and in depth interview
ID theme or pattern, natural setting
Quant: o Quant = structured resonse that can be tested
numerical compare and stat infrences, controlled enviroment,

Question 13

sampling 3 qs

Answer 13

who should, how big and whattype of sample

Question 14

observation (ethnogrophy)

Answer 14

observe consumer using product, in natural setting, maybe cameras in family house to see way wash clothes or cook
o Make observe and take notes
o Useful when customer cant articulate

Question 15

interviews and in depth interviews

Answer 15

o Understand what are they doing and why they are doing
o In depth: explore feelings and insights in the individual level how do you feel about new product
 On personal level

Question 16

group level intercew

Answer 16

o Group level: focus group interview: explore feeling and reaction at the group level
 Like why a product failed
 Reaction to marketing campaign

Question 17

focus group interview

Answer 17

8-12 people discussion and guided by moderator

Question 18

qual interview advice

Answer 18

prep, effective qs, implement, explain purpose, format, time, confedentiality

Question 19

SM method

Answer 19

o Mine data from SM
o Large sample
o Current
o More timely to search for data and no interviewer bias
o Not rep sample
o Feeback not thought out

Question 20

quant method try to

Answer 20

verify insight to aid decision maker
o Can be descriptive like profile typical user
o Or expirmental like what is preffered

Question 21

quant method includes

Answer 21

o Survey research
 Study attitude preference and behavior
 Cost effective
 Anlyze stat to exam relation among variable
 Not answer all q and wrong interpretation
o Survey typically use questionnaire
 Set of q
 Structured vs unstructured go general to specific

Question 22

pilot tesdting

Answer 22

few people with the exact characteristic of info we want
o Like target market or info, we expect to have from them

Question 23

• How to conduct effective research qs

Answer 23

o Open ended qs so answer in own terms
o Qs should be neutral as possible
o Word qs simply

Question 24

o Data saturation

Answer 24

info we collect is repeating that is for how many
 One more interview not get more insights but have exactly the same insights

Question 25

purposive sampling

Answer 25

participants choosing based on specific characteristics, usually from target market like demographic

Question 26

convience sampling

Answer 26

participants are easy to reach for research

Question 27

snowball sample

Answer 27

participants are easy to reach for research

Question 28

o Survey research is build questionnaire and have two types

Answer 28

 1-structured where select answers
 2- unstrucered- open ended qs

Question 29

IV vs DV

Answer 29

o IV = independent of behavior of participant, DV = what we want to measure

Question 30

controlled expirments are

Answer 30

• Experimental research have diff variable and casual effect relationship between variables  controlled experiments
  o Will have different groups presented with diff stimuli